Company Briefs: First Reit

First Reit

First Real Estate Investment Trust has posted a third-quarter distribution per unit of 2.12 cents, up 1.9 per cent from 2.08 cents in the same period last year.

Total distributable income rose 4.7 per cent to $16.3 million, on contributions from Siloam Hospitals Kupang and Lippo Plaza Kupang, which were acquired last December.

Net property income in the three months ended Sept 30 was $26.6 million, up 6.3 per cent from a year ago.

Gross revenue was $26.9 million, up 6.5 per cent from a year earlier.

First Reit reduced its gearing to 30 per cent as at Sept 30, from 34.4 per cent as at June 30, from the issuance of the $60 million subordinated perpetual securities in July, which was used to repay existing loans.

Keppel Telecommunications & Transportation

Keppel Telecommunications & Transportation (Keppel T&T) has posted a net profit of $69.9 million in the third quarter, more than quadruple the $15.3 million a year earlier.

But revenue in the three months ended Sept 30 fell 8.7 per cent to $46.5 million, owing mainly to lower takings from the logistics business, partly offset by a stronger data centre division.

Other income jumped to $59.7 million from just $1.7 million in the third quarter last year, thanks to a gain on disposal of a subsidiary and adjustment to gains from the two data centres disposed in December 2014.

Third-quarter earnings per share was 12.5 cents, up from 2.8 cents in the third quarter last year.

Net asset value per share was $1.41 as at Sept 30, up from $1.30 as at Dec 31 last year.

In a separate announcement, Keppel T&T said it is investing up to $4.6 million in a 59.6 per cent stake in e-commerce logistics service provider Courex, including funding for expansion.

A version of this article appeared in the print edition of The Straits Times on October 20, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe